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REGISTERED NUMBER: 12231377 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

MTCI Limited

MTCI Limited (Registered number: 12231377)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MTCI Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: K McCarthy
Mrs J McCarthy



REGISTERED OFFICE: 11 Bay Tree Road
Abbeymead
Gloucester
Gloucestershire
GL4 5WD



REGISTERED NUMBER: 12231377 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
1 Legg Street
Chelmsford
Essex
CM1 1JS

MTCI Limited (Registered number: 12231377)

Statement of Financial Position
30 September 2023

30/9/23 30/9/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,013 28,567

CURRENT ASSETS
Stocks 1,500 1,000
Debtors 5 13,566 12,873
Cash at bank 25,931 22,742
40,997 36,615
CREDITORS
Amounts falling due within one year 6 23,082 32,545
NET CURRENT ASSETS 17,915 4,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,928

32,637

PROVISIONS FOR LIABILITIES 4,170 4,948
NET ASSETS 37,758 27,689

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,658 27,589
SHAREHOLDERS' FUNDS 37,758 27,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MTCI Limited (Registered number: 12231377)

Statement of Financial Position - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





Mrs J McCarthy - Director


MTCI Limited (Registered number: 12231377)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

MTCI Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MTCI Limited (Registered number: 12231377)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 October 2022 38,322 3,354 41,676
Additions 2,315 3,423 5,738
Disposals (90 ) (983 ) (1,073 )
At 30 September 2023 40,547 5,794 46,341
Depreciation
At 1 October 2022 10,741 2,368 13,109
Charge for year 7,461 1,799 9,260
Eliminated on disposal (41 ) - (41 )
At 30 September 2023 18,161 4,167 22,328
Net book value
At 30 September 2023 22,386 1,627 24,013
At 30 September 2022 27,581 986 28,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade debtors 10,819 10,180
Other debtors 2,747 2,693
13,566 12,873

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade creditors 1,438 1,076
Amounts owed to group undertakings 1,900 1,900
Taxation and social security 3,313 393
Other creditors 16,431 29,176
23,082 32,545

7. RELATED PARTY DISCLOSURES

Directors - Mr K McCarthy & Mrs J McCarthy

At 30 September 2023 the company owed the directors £13,738 (2022 - £26,915) The balance owed, included within other creditors, is made up of business expenses not yet reimbursed and declared dividends directly credited to the director's loan account. The loan is repayable to the director's on demand.